Imagine Art Inc

Analysis

Imagine Art Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in October 2001, 25 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Imagine Art Inc reported income of $2.2m and spending of $2.4m, spending 110% of what it took in. Across the 4 years on record, from September 2020 to September 2023, income grew from $1.3m to $2.2m (+74%), an average of +20% a year. The sharpest change came in the year to September 2022, when income rose by 29%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Imagine Art Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Institute of Contemporary Art San Francisco ($2.2m), Yellowstone Art Museum ($2.2m) and Southern California Railway Museum Inc ($2.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 30% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $68k (2.8% of expenses). Other salaries and wages came to $783k. At year end it held assets of $328k against liabilities of $124k, net assets of $204k. It reported 77 employees.